What amount should report as a loss on sale of receivables

Reference no: EM131956071

Question: Cinder Corp factored, with recourse, $150,000 of accounts receivable with Greedy Financing. The finance charge is 3%, and 5.5% was retained to cover sales discounts, sales returns, and sales allowances. Cinder estimates the recourse obligation at $1, 750. What amount should Cinder report as a loss on sale of receivables?

Reference no: EM131956071

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